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discharge: Chapter 13 Primer - 11/15/09 01:23 AM
Commencing a Chapter 13 Case
–A Chapter 13 bankruptcy case begins with the filing of the bankruptcy petition.
–Upon the filing of the petition an automatic stay arises that prohibits creditors from taking any further action to collect a debt or enforce a judgment.
–A Notice of Commencement of Case is electronically served on all creditors who have subscribed to the national database or by mail to all others.
–This Notice provides each recipient with the date, time and place of the meeting of creditors and confirmation hearing, as well as the last date to file for a determination of whether … (31 comments)
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discharge: What Makes Sense - A Simple Solution - 08/13/09 09:03 AM
The solution to the current and prospective ongoing foreclosure crisis and failure of the banks to effectively modify loans lies, quite simply, in an ability of the Bankruptcy Courts to do the following with respect to home mortgages when an individual or couple files for relief under Chapter 13 or Chapter 11 of the Bankruptcy Code for the purpose of saving their home residence: (1) Value the real property that is claimed as the principle residence of the debtor to an amount based upon not only a customary appraised valuation, but valuation based upon affordability – the amount after regular household … (0 comments)
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discharge: Bankruptcy Practice - Relief for Homeowners - 12/27/08 01:16 PM
Loan Modification companies are springing up faster than weeds in a summer meadow! Many are merely out to capitalize on the despair of others; similar to the lenders who dealt out mortgages to home owners looking to bridge the gap between wanting and affording. The loan modification companies' promises are often empty, but their pockets are full with credit card advances taken from unknowing home owners in despair. In the even to bankruptcy, those advances, ironically or sadly, may not be dischargeable!
California has a Foreclosure Consultants Statutes that strictly regulates such marketeers. But only through the guidance of experienced counsel … (8 comments)
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